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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Enigma who wrote (7671)9/5/1999 11:37:00 AM
From: goldsheet   of 81225
 
> Thanks - that the real story isn't it? It flies in the face of all > the garbage you hear about CBs dumping gold. d

That's what I have been saying to Searle for some time. Everyone gets excited about the threat of CB selling, but the reality is that it has averaged ONLY about 8 million ounces per year over the last decade.

One should be at least twice as concerned about scrap which averaged 16 million ounces, and at least 10 times as concerned about primary mine production which is now hitting a record 82 million ounces.

I would say central banks put about 80 million ounces on the market in the last decade, while increased mining production put an additional 150-175 million ounces above ground in a decade.
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